Peso Falling vs Dollar

brokenwave

Well Known Member
We went to San Carlos Mexico in Nov 1980, the old Peso was 18-1, when we came back 12 days later, we cashed in our peso's back into
dollars it was 25-1. 30% less. WTF!! We didn't know what to think.

We went to Penasco 1st time in May 1983 the old Peso was around 80-1 and over the next 10 years we watched it get to over 3000-1.

In 1993-1994 after much negotiating with the World Monetary Fund, US treasury and US banks enough funds were injected into Mexico's treasury
to allow the Peso to get stable. As Joan said they removed 2 -00's from the peso which became the new Peso with a new value of 3.2 peso's to the dollar (3200 became 3.2 pesos). Here we are 26 years later and the Peso is at 25 -1
Amazing, 6 weeks ago Peso was 18.5-1. 25% less, Humm.
 

Mexico Joe

Cholla Bay 4 Life
We went to San Carlos Mexico in Nov 1980, the old Peso was 18-1, when we came back 12 days later, we cashed in our peso's back into
dollars it was 25-1. 30% less. WTF!! We didn't know what to think.

We went to Penasco 1st time in May 1983 the old Peso was around 80-1 and over the next 10 years we watched it get to over 3000-1.

In 1993-1994 after much negotiating with the World Monetary Fund, US treasury and US banks enough funds were injected into Mexico's treasury
to allow the Peso to get stable. As Joan said they removed 2 -00's from the peso which became the new Peso with a new value of 3.2 peso's to the dollar (3200 became 3.2 pesos). Here we are 26 years later and the Peso is at 25 -1
Amazing, 6 weeks ago Peso was 18.5-1. 25% less, Humm.
Thank you. That was educational.
 

brokenwave

Well Known Member
Thx, Just goes to show you, I'm older than you Joe. :cool:

It was a tough time in Mexico, you would look at a refrigerator to buy and go back 3 days later and the price went up 10%
from the Peso devaluation. The Cambio houses had spreads between buy and sell in the 100's of Pesos.
The locals didn't want pesos. Dollars were like gold.
 

kahunito

Junior Member
Forum Supporter
OK I willl admit its my fault. Opened an intercam account a month or so ago. Put it into a peso account at 18.5 thinking as summer was starting might go to 16.5. :(
 

brokenwave

Well Known Member
OK I willl admit its my fault. Opened an intercam account a month or so ago. Put it into a peso account at 18.5 thinking as summer was starting might go to 16.5. :(
Been there and done that, hopefully not a lot of $$.
I got 6000 pesos at an ATM last week and thought 20.7-1 was great. Oh well.
 

Buffalo Marty

Well Known Member
My wife is Mexican and her family has mentioned when the peso notes were changed, looks like 3 zeros were dropped from the peso on Jan 1, 1993. This does not change the value of the currency, it is just meant to simplify pricing and accounting by avoid ridiculously high denominations for everyday purchases. Dropping the zeros usually happens after rampant inflation severely devalues the currency; I believe it is common in the history of various Latin American countries.

 
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brokenwave

Well Known Member
Mexico flushed them pretty quickly from circulation to avoid confusion,
A 1000 peso bill was worth about 30 cents when they dropped the two zeros off.
I remember taking close to 300,000 pesos to the bank and received less than $100 in US $$.
 

brokenwave

Well Known Member
I saw Bud Light 12 pks for 130 pesos at Supernorte 2 weeks ago. Semana Santa usually brings it down to under 100 pesos.
This time ?? if they lower it to 100 pesos, $4 for 12 pk,, what a deal.
 
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